MONEY VIEW OF IT. 49 



Professor Chadbourne has, — and I will accord to him that he 

 can do all that any live man can do, — I do not believe it is pos- 

 sible even for him to make the Agricultural College there a 

 success. I will tell you some of the reasons. In the first place, 

 we have not the means to do it. When Congress made that 

 grant of land to us, it restrained us. That is, it said : " No 

 State shall locate this scrip outside its own limits," — that is, in 

 another State, — " but the State's assigns may locate it." We 

 had no land in this State, but our legislature chose a commis- 

 sioner to go and locate that scrip. When they found they had 

 made that error they allowed the commissioner to sell the scrip. 

 That land was subject to entry at a valuation of $1.25 per acre, 

 and has been sold at about 80 cents an acre ; so that the differ- 

 ence between $1.25 and 80 cents we have lost. Now, how is it 

 in other States ? The State of Connecticut sent a man to locate 

 these lands and assigned the scrip to Yale College. In that way 

 the college gets the benefit of the prospective rise of the land, 

 and eventually this land will be worth $5 an acre. In the State 

 of New York, Ezra Cornell came forward and offered $500,000 

 for the scrip if they would take the Agricultural College of the 

 State of New York, which had been a failure, and locate it at 

 Ithaca. He has located the scrip and is selling the land at 

 about $5 an acre. Now, we have two-thirds of 360,000 acres of 

 land as a fund to start an Agricultural College, and Judge 

 French says that, at five per cent., it will amount to about 

 $8,600 a year ; and even at six per cent, it will only amount to 

 about $10,000. We have got 400 acres of land that we want to 

 make blossom as the Garden of Eden. We ought to expend 

 $10,000 every year for a long series of years in order to bring 

 that land into good shape. The whole $10,000 will be consumed 

 in the salary of the president or one first-class professor, and in 

 what should be done to carry on that farm successfully. It may 

 be said that the State of Massachusetts is coming forward to 

 furnish all the money needed. Professor Agassiz has said that 

 that college cannot be run for $20,000 a year. The State of 

 Massachusetts may come forward to assist the college ; but when 

 all the branches that are to be pursued there, except practical 

 agriculture, (which means manual labor,) are taught success- 

 fully within a mile and a half in another college, why do we 

 need to put the State to the expense of getting a new lot of 



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